Michelin intends to reduce the dividend it pays shareholders for 2019. The tyre maker has outlined its decision, taken “in a commitment to optimally balance the interests of all its stakeholders”, to reduce the amount of the proposed dividend from the initially-announced 3.85 euros to 2 euros. Payment is scheduled for 3 July 2020.
Continental is postponing its 2020 Annual Shareholders’ Meeting, which was scheduled to take place on 30 April. It reached this decision after the regional government in Lower Saxony, Germany announced a ban on large events in response to the coronavirus pandemic. Postponement was viewed as preferable to relocating the event away from the company’s home town of Hannover.
Although Continental AG won’t publish its full first quarter business figures until 9 May, key data for the three months to 31 March 2017 were released during the company’s Annual Shareholders’ Meeting today. Sales amounted to €11 billion during the quarter, a 11.7 per cent increase year-on-year. Organic growth, adjusted for changes in the scope of consolidation and exchange rates, amounted to 9.5 per cent, to which the Automotive Group’s business made a considerable contribution. The adjusted operating result (adjusted EBIT) increased to around €1.2 billion, while the adjusted EBIT margin was 10.7 per cent.
During the company’s annual shareholder meeting yesterday, Richard Kramer stated that trends within the global tyre industry are playing to Goodyear Tire & Rubber Company’s strengths and its strategy to drive profitable growth. This growth, he added, is best represented within the consumer tyre business by the rising demand for tyres with 17-inch and larger rim diameters – the market for this segment has doubled since 2010 and is expected to double again by 2020.
The 2014 results for Pirelli & C. S.p.A – a consolidated net profit of €332.8 million and parent group net profit of €258.0 million – were approved at a shareholders’ meeting yesterday, and the decision taken to distribute a dividend of €0.367 per ordinary share and €0.431 per savings share. Dividends will be paid on 20 May 2015 (ex-coupon 18 May 2015 and record date 19 May 2015).
Titan International is urging its stockholders to approve the reincorporation of the company from the US state of Illinois to the state of Delaware at its annual shareholders meeting on 4 June. This move has already been unanimously approved by the tyre maker’s Board.
At its annual shareholder meeting yesterday, Goodyear Tire & Rubber declared a dividend of US$0.06 per share of common stock (payable June 1 2015 to shareholders of record on May 1 2015), and shareholders re-elected 13 of the company’s Board of Directors to new one-year terms. Goodyear chairman and chief executive officer Richard Kramer also reviewed the tyre maker’s performance in 2014.
Tyre firm celebrates 2013 results, approves board remuneration The Goodyear Tire & Rubber Company is celebrating achieving “many milestones in 2013, a year that was unlike any other in its 115-year history”. Chairman and CEO Richard J. Kramer highlighted record segment operating income and “strong cash flow” as two examples at the company’s annual shareholder […]